Fuel price increases: economist reports signs of monopolistic collusion
9 March 19:38
Following the escalation of events in the Middle East, Ukrainian gas station chains almost immediately raised fuel prices. However, such a rapid response may indicate a possible monopoly conspiracy in the market, as domestic gas stations have significant fuel reserves. Andriy Novak, chairman of the Committee of Economists of Ukraine, spoke about this in an interview with the YouTube channel "Komersant Ukrainian".
“Any gas station chain, including Ukrainian ones, has fuel reserves in its warehouses. At least a month, two, three. Depending on the type of fuel, depending on turnover, on the speed of turnover.
So, what does it mean that the reaction to a sharp increase in fuel prices happened just a few hours after the active events in the Middle East? It means that one of our state bodies, which should be working in such moments, namely the Antimonopoly Committee of Ukraine, is completely ineffective,” he said.
The economist noted that when the largest gas station chains raise fuel prices almost simultaneously, it looks suspicious and may indicate coordinated action.
Watch us on YouTube: important topics – without censorship
Therefore, in his opinion, the state should pay attention to this situation and conduct an investigation.
“This suggests that gas station chains have once again engaged in what is known as a monopoly conspiracy. A monopoly conspiracy between the four or five largest gas station chains. Note that the price has risen almost identically, by the same amount, approximately 2 hryvnia, in each of these gas station chains, with an accuracy of literally tenths of a kopeck,” he argues.
Novak also commented on forecasts of a possible increase in gasoline prices to 100 hryvnia per liter.
Read us on Telegram: important topics – without censorship
In his opinion, such statements are exaggerated and are used to create sensational headlines.
“You know, such sensational headlines are very appealing. We will have 100 hryvnia, 150, such nice round numbers. They say it’s experts, but in reality, it’s provocateurs. Because, first of all, as of today (as of March 6, ed.), there is still no reason for such a price increase — up to 100 hryvnia per liter,” he added.
